Dimondale, Michigan Property Taxes
The median property tax rate in Dimondale, MI is 1.73%, considerably higher than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Dimondale at $269,000, the typical annual property tax bill reaches $4,717, exceeding the national median of $2,690. Property taxes in Dimondale are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Dimondale's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Dimondale or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dimondale, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.73%
Estimate Property Tax Bill
$4,654
$4,319
Ownwell’s Dimondale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dimondale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dimondale to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Dimondale, Michigan
Property taxes in Dimondale, Michigan, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dimondale is 1.73%, significantly higher than both the Michigan state median and the U.S. national median of 0.99%. Local government entities within Dimondale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dimondale estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Dimondale's effective property tax rate to other counties in Michigan and the national median. For comparison, the 48821 zip code has the highest median property tax rate of 1.73%, while the same zip code also represents the lowest median tax rate of 1.73%. Understanding how these cities compare with Dimondale provides valuable insights into the varying tax landscape across Ingham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dimondale Tax Rate
1.73%
Average Ingham County Tax Rate
2.06%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dimondale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48821 | 1.32% | 1.53% | 1.73% | 1.91% | 2.12% |
Source: Ownwell
Property Tax Assessment Values Across Dimondale, Michigan
In Dimondale, Michigan, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Ingham County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Dimondale, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. The median home price here is $269,000, with tax bills ranging from $3,855 at the 25th percentile to $7,319 at the 90th percentile. The zip code with the highest and lowest median tax bill is 48821, both at $4,717. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Dimondale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dimondale Assessed Value
$269,000
Average Ingham County Assessed Value
$152,200
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dimondale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48821 | $192,520 | $227,000 | $269,000 | $335,400 | $411,520 |
Source: Ownwell
Property Tax Bills Across Dimondale, Michigan
In Dimondale, located in Ingham County, MI, property tax bills are calculated based on the assessed value of a home, which is typically 50% of the market value. For instance, with a median home price of $269,000, the assessed value would be approximately $134,500. This value is then multiplied by the local tax rate to determine the annual tax bill. The tax rate in Dimondale can vary, but it significantly influences the final amount homeowners are required to pay. Factors such as local government budgets, school district funding, and public services also play a crucial role in determining the tax rate. Homeowners in Dimondale can expect their tax bills to range widely. For example, the 25th percentile tax bill is around $3,855, while the 75th percentile reaches $5,665, and the 90th percentile can go up to $7,319. Compared to the national median property tax rate of 0.99%, homeowners in Dimondale may find their tax rates either higher or lower, impacting their overall financial planning and property affordability.
Average Dimondale Tax Bill
$4,717
Average Ingham County Tax Bill
$3,019
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Dimondale, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48821 | $3,063 | $3,855 | $4,717 | $5,665 | $7,319 |
Source: Ownwell